Approval of plan for merger of Gjensidige and its wholly owned Danish subsidiary Gjensidige Forsikring Tidligere PenSam Forsikring A/S

20 Mar 2024 11:51 CET

Reference is made to the announcement on 31 October 2023 regarding Gjensidige's
acquisition of PenSam Forsikring. The Board of Gjensidige Forsikring ASA
("Gjensidige") has today approved a merger plan between Gjensidige and its
wholly owned Danish subsidiary Gjensidige Forsikring Tidligere PenSam Forsikring
A/S. It is planned that the boards of both companies will follow up on the
decision regarding the merger plan with a final resolution and a decision on the
merger on or about 24 April 2024 in Gjensidige and 2 May 2024 in the Danish
subsidiary. Both companies will apply to their respective national financial
supervisory authorities for approval of the merger, and the completion of the
merger will be contingent upon such approval. It is expected that the merger
will be completed during the third quarter 2024.

The merger will not have any effect on Gjensidige Group's capital position and
aims to enhance operational efficiency. The merger plan will be submitted to the
Norwegian Register of Business Enterprises, and shareholders of Gjensidige will
receive written notification. The letter to the shareholders, available in both
English and Norwegian, is attached hereto. Additionally, the merger plan and
related documents will be available at Gjensidige's offices and on
www.gjensidige.com.

This information is subject to disclosure under the Norwegian Securities Act
section §5-12 and the rules of the Oslo Stock Exchange.

Contact, Gjensidige Forsikring ASA:
Head of Investor Relations Hagen Negård. Tel:  +47 957 93 631
Investor Relations Officer Marius Michelsen Fjellbo. Tel: +47 995 67 593
Gjensidige is a leading Nordic insurance group listed on the Oslo Stock
Exchange. We have about 4,500 employees and offer insurance products in Norway,
Denmark, Sweden and the Baltic states. In Norway, we also offer pension and
savings. The Group's operating income was NOK 36 billion in 2023, while total
assets were NOK 148 billion.

More information:
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